With all the Christmas hubbub, and to a lesser extend, Hanukkah hubbub, Kwanzaa gets lost in the mix. It makes sense, since no one knows what it is.
5.) What The Hell Is It?

THIS guy has no idea what it is, and he's wearing a tiara.
Most people only know a few things about Kwanzaa, one is that they don't know much about it. The other is that they don't know anyone that actually celebrates it.
4.) Invented For The Butt Of Jokes?

Since no one knows what it's about or is aware of anyone who observes the holiday, it's pretty much become a joke. Think of all the times you wish someone a "Merry Christmas" or the apparently more respectful "Happy Holidays" only to receive "Happy Kwanzaa" in reply. It seems like Kwanzaa was invented specifically for the joking that surrounds it.
3.) Jokes About Kwanzaa Overdone

Since joking about Kwanzaa is so common, the jokes have become kind of overdone. Sort of similar to the "your mom" jokes and "that's what she said's" that have been so prevalent in previous years. One time, you were clever when you made fun of Kwanzaa, now it's pretty old, which is frustrating, because Kwanzaa is funny.
2.) Copying The Menorah Idea

Rip-off!
While Kwanzaa was initially created independent of major religions, what's up with the Menorah like structure and candle-lighting ceremonies? We gotta call a Joe Satriani vs. Coldplay plagiarism dispute here. Something's a little fishy.
1.) No Presents

Everyone recognized how boring Christmas and Hanukkah are, so they added presents. But that never happened with Kwanzaa! What's up with that? What's the point of celebrating it without all the commercialism and selfishness? UPDATE: Kwanzaa DOES include presents! However, they are encouraged to be of "artistic or educational value" or "crafted by one's own hand." DOESN'T COUNT AS PRESENTS!